We got LiLo out Friday in NYC where we asked her to clarify her since-deleted Instagram post that seemed to shade both Miley and Cody ... in which she implied Cody had "failed" and "settle[d] for less" by dumping her sister, Aliana, to be with Miley.
Lindsay also said that he may have won 'The Masked Singer,' but had lost at life. She quickly took down the post after putting it up, but it had gotten screenshot and spread around.
The 'Masked Singer' jab stems from her time as a judge on the Australian version of the show, when she called him out for left-behind furniture she'd bought him, and wanted back.
Hitting the point home, she said ... "If it is you, we have a lot to talk about, and this is not the arena for it. I want my furniture back! Because I bought your furniture for your house in Venice!" While jokey, Lindsay also sounded somewhat serious about her demand.
Well ... we'd spoken with sources close to Lindsay, who told us she was only kidding around and that her IG post was merely an inside joke. She confirmed that with us here on camera, saying it was, in fact, a joke ... and that she loves Miley and thinks Cody's a great guy.
LiLo even weighed in what she thinks of them as a couple. Watch ... it's high praise.